April 10, 2018 / 7:35 AM / 16 days ago

CARE ratings for Indian debt instruments-Apr 10

    Apr 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 9, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ardisons Associates                   ST BkFac           CARE A4        30      Issuer not
                                                                                cooperating;
                                                                                Based on
                                                                                best available
                                                                                information
Bhasin Industries                     ST Bk Fac          CARE A4        65      Assigned

Hitek Engineering Services            ST Bk Fac          CARE A4+       210     Reaffirmed
Narayana Agro Oils Pvt Ltd            ST Bk Fac          CARE A4        5       Assigned
Oil India Ltd                         ST Bk Fac          CARE A1+       24020.3 Reaffirmed
Relemac Technologies Pvt Ltd          ST Bk Fac          CARE A4        135     Issuer not
                                                                                cooperating;
                                                                                Based on
                                                                                best available
                                                                                information
Sandeep Enterprises                   ST Bk Fac          CARE A4        10      -
Satkar Travels Pvt Ltd                ST Bk Fac          -              -       Withdrawn
Solace Engineers Marketing Pvt Ltd    ST Bk Fac          CARE A4        20      Assigned
Sri Balaji Vidyapeeth                 ST Bk Fac          CARE A4        70      Assigned
Vardhman Electrical Appliances        ST Bk Fac          CARE A4        20      Assigned


LONG TERM RATINGS:
-------------------
A. K. Shivhare Infrastructure Pvt Ltd LT Bk Fac          CARE BBB       200     Assigned
A. K. Shivhare Infrastructure Pvt Ltd LT/ ST Fac         CARE BBB/A3+   550     Assigned
Annapurna Finance Pvt Ltd             LT Bk Fac          CARE BBB+      1300    Assigned
Ardisons Associates                   LT BkFac           CARE BB        65      Issuer not
                                                                                cooperating;
                                                                                Based on
                                                                                best available
                                                                                information
Bhasin Industries                     LT Bk Fac          CARE BB-       55      Assigned
Chennamanagathihalli Solar Power      LT BkFac           CARE B         139.5   Assigned
Project Llp
Firefly Batteries Pvt Ltd             LT Bk Fac          CARE D         230     Issuer not
                                                                                cooperating;
                                                                                Revised from 
                                                                                CARE B+, 
                                                                                on the basis
                                                                                of best 
                                                                                available
                                                                                information
Firefly Batteries Pvt Ltd             LT/ ST Bk Fac      CARE D         87      Issuer not
                                                                                cooperating;
                                                                                Revised from
                                                                                CARE B+/
                                                                                CARE A4
                                                                                on the basis
                                                                                of best 
                                                                                available 
                                                                                information
Hinduja Leyland Finance Ltd           Non-Convertible    CARE AA-       5000    Assigned
                                      issue (Proposed)
                                      Debenture
Hitek Engineering Services            LT Bk Fac          CARE BB+       100     Reaffirmed
Hukkeri Solar Power Project Llp       LT Bk Fac          CARE B         102     Assigned
Khyati Realtors Pvt Ltd               CP (CP) Issue@     -              -       Withdrawn
@ Backed by credit enhancement in the form of unconditional and irrevocable 
corporate guarantee by Lakshdeep Investments & Finance Pvt. Ltd. (LIFPL, guarantor)
Lavasa Corporation Ltd                CCPS               CARE C (SO)    5250    Issuer not
                                                                                cooperating;
                                                                                Rating 
                                                                                Reaffirmed; 
                                                                                Based on 
                                                                                best 
                                                                                available 
                                                                                information
Lavasa Corporation Ltd                LT Bk Fac – TL     CARE D         3963.3  Issuer not
                                                                                cooperating;
                                                                                Rating 
                                                                                Reaffirmed; 
                                                                                Based on 
                                                                                best 
                                                                                available 
                                                                                information
Lavasa Corporation Ltd                LT Bk Fac – TL     CARE D         5478.1  Issuer not
                                                                                cooperating;
                                                                                Rating 
                                                                                Reaffirmed; 
                                                                                Based on 
                                                                                best 
                                                                                available 
                                                                                information
Lavasa Corporation Ltd                LT instruments –   CARE D         963.9   Issuer not
                                      NCD I                                     cooperating;
                                                                                Rating 
                                                                                Reaffirmed; 
                                                                                Based on 
                                                                                best 
                                                                                available 
                                                                                information
Lavasa Corporation Ltd                LT instruments –   CARE D         2500    Issuer not
                                      NCD IV                                    cooperating;
                                                                                Rating 
                                                                                Reaffirmed; 
                                                                                Based on 
                                                                                best 
                                                                                available 
                                                                                information
Lavasa Corporation Ltd                LT instruments –   CARE D         1144.5  Issuer not
                                      NCD V                                     cooperating;
                                                                                Rating 
                                                                                Reaffirmed; 
                                                                                Based on 
                                                                                best 
                                                                                available 
                                                                                information
Lavasa Hotel Ltd                      LT Bk Fac          CARE D         43.8    Reaffirmed
Narayana Agro Oils Pvt Ltd            LT Bk Fac          CARE BB        234     Reaffirmed
(enhanced from Rs.20.34 crore Crore)
Nataraj Ginning & Pressing Mill       LT Bk Fac          CARE B+        69      Assigned
Oil India Ltd                         LT Bk Fac          CARE AAA       2000    Reaffirmed
Oil India Ltd                         LT/ST Non-FB Fac   CARE AAA/A1+   9740    Assigned
Patel Education Society               LT Bk Fac          CARE B         57.3    Assigned
Relemac Technologies Pvt Ltd          LT Bk Fac          CARE BB-       30.6    Issuer Not
                                                                                Cooperating;
                                                                                Based on
                                                                                best available
                                                                                information
Saligram Timbers                      LT Bk Fac          CARE B+        115     Assigned
Sandeep Enterprises                   LT Bk Fac          CARE B+        90      -
Satkar Travels Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Shree Rayon Pvt Ltd                   LT Bk Fac          -              -       Withdrawn
Shyama Shyam Service Centre           LT Bk Fac          CARE BB        20      Assigned
Shyama Shyam Service Centre           LT/ ST Bk Fac      CARE BB/A4+    30      Assigned
Solace Engineers Marketing Pvt Ltd    LT Bk Fac          CARE BB-       65      Assigned
Sri Balaji Vidyapeeth                 LT Bk Fac          CARE BB+       430     Assigned
Tirupati Sprinklers                   LT Bk Fac          CARE BB-       90      Assigned
Vardhman Electrical Appliances        LT Bk Fac          CARE B+        37.8    Assigned
Yarganvi Solar Power Project Llp      LT Bk Fac          CARE B         135     Assigned
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

CARE may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@thomsonreuters.com)
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